Bankers have started to regain
confidence in overseas financial centres as concerns over the
credit crisis start to diminish.
The latest
Global Financial Centres Index, which surveys bankers’
attitudes towards financial centres, showed 59 of the 75
jurisdictions received higher scores than six months previously.
The improvements were mainly seen in Asia. Beijing’s score
increased 135 points, taking it up 29 places in the rankings to
22nd. Shanghai moved up 25 places to 10th.
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Financial centres generally considered to be offshore – for example
the Channel Islands, Cayman Islands, the Bahamas and Gibraltar –
generally saw their rankings decline. In March, the survey showed a
flight to quality, with the top-rated centres hit less hard in the
rankings. London was top of the rankings, followed by New York,
Hong Kong, Singapore and Shenzhen, located in China’s Guangdong
province, in fifth, which was included for the first time.
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